History
Prior to 1974, there was no Congressional Budget Office nor budget resolution process. When President Richard Nixon began to refuse to spend funds that the Congress had allocated, Congress needed a more formal means by which to challenge him. The resulting Congressional Budget and Impoundment Control Act of 1974 created the Congressional Budget Office and directed more control of the budget to CBO and away from the President's Office of Management and the Budget. The Act passed easily as the administration was then embroiled in the Watergate scandal and unwilling to provoke Congress.
Read more about this topic: Budget Resolution
Famous quotes containing the word history:
“What would we not give for some great poem to read now, which would be in harmony with the scenery,—for if men read aright, methinks they would never read anything but poems. No history nor philosophy can supply their place.”
—Henry David Thoreau (1817–1862)
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